At a pre-CES press preview last night in New York, the CEA revealed its latest consumer research, culled just after the presidential election from Nov. 6 to 9, showing what Tim Herbert, senior director of market research, termed “unprecedented negative sentiment” about the economy. “Ninety percent of consumers say the economy is worse than at this time last year, up from 87 percent on Sept. 27 – the largest number in the 15 years CEA has conducted this survey,” he said.
But this dark cloud has a bit of a silver lining for CE products, the results show.
Herbert said additional findings show consumers planning in general to pull back on Q4 holiday spending, all told, including CE, with overall average holiday expenditures expected to be down 14 percent at $1,437 from $1,671 in 2007. “The lowest ever percentage of consumers say they’ll spend the same or more over the holiday season,” he said the poll revealed.